New bill proposed in the United States to regulate cryptocurrency

US Treasury Secretary Scott Bessent has called for the swift passage of legislation to set clear rules for the global cryptocurrency market. He warned that delay could cause the United States to fall behind in global financial leadership.

In an opinion piece, he noted that the proposed legislation is still stuck in the Senate despite long discussions. He also expressed concern that if action is not taken quickly, the leadership of the crypto sector could shift to another country.

Known as the ‘Clarity Act’, the bill was passed by the House of Representatives in July last year. It provides clear guidance on whether digital assets should be classified as securities or commodities and which agency should regulate them. However, the Senate has not yet reached a final decision on the bill.

According to Bessent, a stable and reliable legal framework is essential to keep developers and entrepreneurs working in the technology sector in the country. He said the Genius Act has brought some progress, and the Clarity Act will be the next important step.

It is worth noting that President Donald Trump signed the Genius Act last year, which created a framework for regulating stablecoins—digital tokens linked to stable assets like the dollar.

According to experts, this bill, known as the Market Structure Act, is quite complex. Although initially expected, its passage is still slow. However, those concerned believe that the implementation of this law is essential to maintain leadership in the global financial system.